The economy grew last quarter at an annual rate of 1.3%, according to the Commerce Department, a figure revised lower from the originally reported 1.7% gain. Economists were expecting 1.7% growth. The lower revision was due to less-than-expected consumer and spending and weaker farm inventories, which were hit by the drought.

Whether the economy is growing at a 1.7% rate or a 1.3% clip is essentially negligible to the average American. Either way, growth is extraordinary weak for this stage of the economic recovery. As Paul wrote in today’s Morning MarketBeat, “The biggest problem with a stall-speed economy is that it’s exposed, and liable to be knocked over by any sort of exogenous shock.”

Other economic data released this morning didn’t exactly paint an uplifting picture of the economy. Durable goods fell 13.2% last month, notching their biggest decline since January 2009 and underscoring the growing weakness in the manufacturing sector. Weak orders for commercial aircrafts contributed to the downbeat number.

This morning’s weak data provide further evidence of a struggling economy and support the aggressive stance Ben Bernanke & Co. have taken to kickstart the economy.

“The sharp downward revision to the GDP report and the weaker-than-expected performance in durable goods orders in August provide a sobering reminder that the overall economic recovery is continuing to struggle to regain traction,” wrote Millan Mulraine, a strategist at TD Securities. “And while the improvement in consumer confidence and housing market activity offer some hope of better growth performance this quarter, the collapse in durable goods orders and weakness in shipments suggest that capital investment activity could continue to be a sore point for the economic recovery.”

The one hopeful sign this morning came from jobless claims, which tumbled by 26,000 to 359,000, the lowest level since July. Claims had been creeping higher in recent weeks, so this is a good a sign. But expectations are still pretty downbeat for the next monthly jobs report, due one week from tomorrow.

Still to come is a report on pending home sales, due at 10 a.m. Eastern Time.

Stock futures are higher this morning, as the market looks to snap the recent losing streak. Dow futures are up 67 points and S&P 500 futures are up 7 points. Financial stocks, including Bank of America and J.P. Morgan, are pointed higher this morning.

As our colleague John Shipman just wrote, “markets remain preoccupied more with central-bank actions than the stubborn weakness in the economy.”

For more MarketBeat and other streaming markets coverage from The Wall Street Journal, point your mobile browser to wsj.com/marketspulse.

Comments (2 of 2)

Search the web site for pages or information that you are after
Search the Website
Motore di Ricerca
Motore di Ricerca:
"
Ricerca per:
Tutte le Parole
Ogni Parola
Frase
with HTML encoded < and >
strSearchWords = Replace(strSearchWords, "", ">", 1, -1, 1)
End If
'Slit each word to be searched up and place in an array
sarySearchWord = Split(Trim(strSearchWords), " ")
'Read the file number to show from
intFileNum = CInt(Request.QueryString("FileNumPosition"))
'Set the number of files shown so far to the file number read in above
intNumFilesShown = intFileNum
'Create the file system object
Set fsoObject = Server.CreateObject("Scripting.FileSystemObject")
'If there is no words entered by the user to search for then dont carryout the file search routine
If NOT strSearchWords = "" Then
'Get the path and the root folder to be searched
Set fldObject = fsoObject.GetFolder(Server.MapPath("./"))
'Read in the server path to this ASP script
strServerPath = fldObject.Path & "\"
'Set to true as this is searching the root directory
blnIsRoot = True
'Call the search sub prcedure
Call SearchFile(fldObject)
'Reset server variables
Set fsoObject = Nothing
Set fldObject = Nothing
'Call the Bubble Sort procedure to sort the results into highest matches first
Call SortResultsByNumMatches(sarySearchResults, intTotalFilesFound)
'Display the HTML table with the results status of the search or what type of search it is
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
'Display that there where no matching records found
If blnSearchResultsFound = False Then
Response.Write vbCrLf & " Searched the site for " & strSearchWords & ". Sorry, no results found."
'Else Search went OK so display how many records found
Else
Response.Write vbCrLf & " Searched the site for " & strSearchWords & ". Displaying Results " & intFileNum + 1 & " - " & intNumFilesShown & " of " & intTotalFilesFound & "."
End If
'Close the HTML table with the search status
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
'HTML table to display the search results or an error if there are no results
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
'If no results are found then display an error message
If blnSearchResultsFound = False Then
'Write HTML displaying the error
Response.Write vbCrLf & " "
Response.Write vbCrLf & " Your Search - " & strSearchWords & " - did not match any files on this site."
Response.Write vbCrLf & " "
Response.Write vbCrLf & " Suggestions:"
Response.Write vbCrLf & " "
Response.Write vbCrLf & " Make sure all words are spelled correctly.Try different keywords.Try more general keywords.Try fewer keywords."
'Else display the results
Else
'Loop round to display each result within the search results array
For intDisplayResultsLoopCounter = (intFileNum + 1) to intNumFilesShown
Response.Write vbCrLf & " "
Response.Write vbCrLf & " " & sarySearchResults(intDisplayResultsLoopCounter,1)
Response.Write vbCrLf & " "
Next
End If
'Close the HTML table displaying the results
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
End If
'Display an HTML table with links to the other search results
If intTotalFilesFound "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " Results Page: "
'If the page number is higher than page 1 then display a back link
If intNumFilesShown << Prev "
End If
'If there are more pages to display then display links to all the search results pages
If intTotalFilesFound " & intPageLinkLoopCounter & " "
End If
Next
End If
'If it is Not the last of the search results than display a next link
If intTotalFilesFound Next >>"
End If
'Finsh HTML the table
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
Response.Write vbCrLf & " "
End If
%
Ricercati
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webwizguide.info")
'***** END WARNING - REMOVAL OR MODIFICATION OF THIS CODE WILL VIOLATE THE LICENSE AGREEMENT ******
%
0 Then
Response.Write("Error The Server does not support the Regular Expessions objectPlease download the alternative version of this application from webwizguide.info/asp/sample_scripts/site_search_script.asp")
'Reset error object
Err.Number = 0
End If
'Loop to search each file in the folder
For Each filObject in fldObject.Files
'Check the file extension to make sure the file is of the extension type to be searched
If InStr(1, strFilesTypesToSearch, fsoObject.GetExtensionName(filObject.Name), vbTextCompare) ", "", strFileContents)
'Read in the description meta tag of the file
strPageDescription = GetFileMetaTag("", strFileContents)
'Read in the keywords of the file
strPageKeywords = GetFileMetaTag("", strFileContents)
'Set the pattern using regular expressions to srip any HTML tags
objRegExp.Pattern = "]* intNumFilesShown Then
'Calculate the number of results shown
intNumFilesShown = intNumFilesShown + 1
End If
'Place the search results into the saerch results array
'Calculate the array position of the results array
intResultsArrayPosition = intResultsArrayPosition + 1
'Set the search results found boolean to true
blnSearchResultsFound = True
'If the file is in the root directory then
If blnIsRoot = True Then
'Place the search results into the search results array
sarySearchResults(intResultsArrayPosition,1) = "" & strPageTitle & ""
'Else it is not in the root directiory
Else
'Place the search results into the search results array
sarySearchResults(intResultsArrayPosition,1) = "" & strPageTitle & ""
End If
'Place the rest of the search results in the search results array
sarySearchResults(intResultsArrayPosition,1) = sarySearchResults(intResultsArrayPosition,1) & vbCrLf & " " & strPageDescription
sarySearchResults(intResultsArrayPosition,1) = sarySearchResults(intResultsArrayPosition,1) & vbCrLf & " Search Matches " & intNumMatches & " - Last Updated " & FormatDateTime(filObject.DateLastModified, VbLongDate) & " - Size " & CInt(filObject.Size / 1024) & "kb"
'Read in the number of search word matches into the second part of the two dimensional array
sarySearchResults(intResultsArrayPosition,2) = intNumMatches
End If
'Close the text stream object
tsObject.Close
End If
End If
Next
'Reset the Regular Expression object
Set objRegExp = Nothing
'Loop to search through the sub folders within the site
For Each subFldObject In FldObject.SubFolders
'Check to make sure the folder about to be searched is not a barred folder if it is then don't search
If NOT InStr(1, strBarredFolders, subFldObject.Name, vbTextCompare)

12:34 pm September 27, 2012

MSM wrote :

funny how they bury this so no one sees it; they might not want to vote for Big O.

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